Fin. Code, § 17321.1 · Article 3. Membership Fee and Assessments
Fin. Code, § 17321.1
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Fidelity Corporation shall levy a special assessment against its members whenever:
(a) Deemed necessary by the board of directors in the event of any extraordinary expenses which would seriously deplete the resources of the operations fund; or
(b) A proof of loss has been submitted by a member which, if paid during that fiscal year, would reduce the membership fund by 10 percent or more.
Notes and commentary — not statutory text
History
Added by Stats. 1988, Ch. 1458, Sec. 15. Effective September 28, 1988.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=17321.1.
- Text hash
- sha256 94e135e3f1547fa60c038eac4cdd192460028ab75a6f1fde1cad61da1f961a47
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 4 provisions
Provisions in this library whose text cites Fin. Code, § 17321.1. Each shows the citation as that text prints it.
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